1:00 PM New York – Garmin Ltd plunged 12% after it reported lower than expected revenues but a surprise rise in net. Solera Holdings surged 12% after it lifted its fiscal year earnings outlook. Trucking company Con-way Inc plunged after quarterly revenues and net fell.

Of the stocks in S&P 500 index, 389 increased, 103 declined and 7 were unchanged.

Baker Hughes Incorporated led the decliners in the S&P 500 index with a loss of 3.1% followed by losses in Kraft Foods Inc of 2.9%, in BJ Services Company of 2.7%, in Molson Coors Brewing Company of 2.7% and in Watson Pharmaceuticals, Inc of 2.3%.

MBIA Inc led gainers in the S&P 500 index with a rise of 13.3% followed by gains in DaVita Inc 6.8%, in CIGNA Corporation of 8.6% and in UnitedHealth Group Incorporated of 5.6%.

Other Movers

Agrium Inc (AGU) added 2.06% or 99 cents to $49.00 after the retailer of agriculture products reported third quarter sales fell 41% to $1.84 billion from $3.11 billion a year ago. Net income in the quarter fell 93% to $26 million or 16 cents per diluted share compared to net income of $367 million or $2.31 per share a year ago.

Automatic Data Processing, Inc (ADP) climbed 0.4% or 18 cents to $40.83 after the payroll processing company reported first quarter revenues fell 3.7% to $2.10 billion from $2.18 billion a year ago. Net income in the quarter rose 2.6% to $284.1 million or 56 cents per diluted share compared to net income of $276.9 million or 54 cents per share a year ago.

Baker Hughes Incorporated (BHI) the oilfield services provider fell 4.4% or $1.91 to $41.52.

Blackboard Inc (BBBB) added 5.7% or $2.07 to $37.88 after the provider of enterprise software applications said third quarter revenues rose 18.4% to $98.4 million from $83.1 million a year ago. Net income in the quarter rose 386% to $4.3 million or 13 cents per diluted share compared to net income of $885,000 or 3 cents per share a year ago.

BJ Services Company (BJS) the provider of pressure pumping and oilfield services for the petroleum industry fell 3.3% or 66 cents to $19.18.

Checkpoint Systems, Inc (CKP) fell 0.7% or 11 cents to $13.90 after the manufacturer of identification, tracking solutions reported third quarter sales fell 17.1% to $194.1 million from $234 million a year ago. Net income in the quarter fell 80% to $2.6 million or 7 cents per diluted share compared to net income of $12.8 million or 32 cents per share a year ago.

Cogent, Inc (COGT) fell 0.7% or 7 cents to $9.49 after the provider of automated fingerprint identification systems said third quarter revenues fell 17.4% to $28.9 million from $35.0 million a year ago. Net income in the quarter fell 52.5% to $5.7 million or 6 cents per diluted share compared to net income of $12.0 million or 13 cents per share a year ago.

Con-way Inc (CNW) climbed 1.9% or 62 cents to $32.62 after the trucking company said third quarter revenues fell 17.5% to $1.13 billion from $1.37 billion a year ago. Net income in the quarter fell 65% to $13.5 million or 27 cents per diluted share compared to net income of $38.8 million or 81 cents per share a year ago.

DaVita Inc (DVA) rose 7.7% or $4.19 to $58.59 after the provider of dialysis services said we are raising our operating income guidance range for 2009 from $900-$930 million to $930-$950 million. Also, we may modestly exceed the upper end of our previous operating cash flow guidance of $550-$600 million.

Dolby Laboratories, Inc (DLB) increased 4.0% or $1.73 to $44.18 after the audio technology licensor said fourth quarter revenues rose 0.5% to $163.9 million from $163.1 million a year ago. Net income in the quarter fell 8.8% to $44.3 million or 38 cents per diluted share compared to net income of $48.6 million or 42 cents per share a year ago.

Douglas Emmett, Inc (DEI) decreased 1.1% or 13 cents to $11.68 after the real estate investment trust said third quarter revenues fell 12% to $123.5 million from $140.1 million a year ago. Net loss in the quarter was $8.8 million or 7 cents per diluted share compared to net loss of $9.7 million or 8 cents per share a year ago.

Foster Wheeler AG (FWLT) increased 5.0% or $1.51 to $31.22 after the engineering and construction firm reported third quarter sales fell 29% to $1.22 billion from $1.72 billion a year ago. Net income in the quarter fell 29.6% to $90 million or 71 cents per diluted share compared to net income of $127.9 million or 88 cents per share a year ago.

Garmin Ltd (GRMN) fell 12% or $3.77 to $27.64 after the navigational device maker reported third quarter sales fell 10% to $781.3 million from $870.4 million a year ago. Net income in the quarter rose 25.6% to $215.1 million or $1.07 per diluted share compared to net income of $171.2 million or 82 cents per share a year ago.

Kraft Foods Inc (KFT) dropped 2.9% or 81 cents to $26.73 after the maker of packaged food products said third quarter revenues fell 5.7% to $9.8 billion from $10.4 billion a year ago. Net income in the quarter fell 39.4% to $824 million or 55 cents per diluted share compared to net income of $1.36 billion or 91 cents per share a year ago.

Maxwell Technologies, Inc (MXWL) dropped 3.7% or 71 cents to $18.25 after the manufacturer of energy storage and power delivery products said third quarter revenues rose 22% to $26.1 million from $21.4 million a year ago. Net loss in the quarter was $4.6 million or 18 cents per diluted share compared to net loss of $5.7 million or 27 cents per share a year ago.

MBIA Inc (MBI) a financial guarantee prvider surged 16.3% or 67 cents to $4.79.